ChargePoint Target of Unusually Large Options Trading (NYSE:CHPT)

ChargePoint Holdings, Inc. (NYSE:CHPTGet Free Report) saw some unusual options trading activity on Thursday. Investors acquired 91,436 call options on the stock. This is an increase of approximately 181% compared to the average daily volume of 32,509 call options.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. DA Davidson reiterated a “buy” rating and set a $4.00 price target on shares of ChargePoint in a research note on Wednesday, March 6th. The Goldman Sachs Group reiterated a “sell” rating and set a $1.50 price target (down previously from $2.00) on shares of ChargePoint in a research note on Tuesday, April 9th. Royal Bank of Canada reiterated a “sector perform” rating and set a $3.00 price target (down previously from $3.50) on shares of ChargePoint in a research note on Wednesday, March 6th. Oppenheimer reiterated a “market perform” rating on shares of ChargePoint in a research note on Wednesday, March 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $3.00 target price on shares of ChargePoint in a research note on Thursday, June 6th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $4.96.

Check Out Our Latest Stock Analysis on ChargePoint

ChargePoint Price Performance

Shares of CHPT stock opened at $1.41 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.13 and a quick ratio of 1.45. The company has a market capitalization of $596.94 million, a P/E ratio of -1.18 and a beta of 1.74. The company’s 50-day simple moving average is $1.63 and its two-hundred day simple moving average is $1.90. ChargePoint has a one year low of $1.21 and a one year high of $9.23.

Institutional Investors Weigh In On ChargePoint

Several hedge funds have recently modified their holdings of CHPT. Vanguard Group Inc. lifted its position in ChargePoint by 26.3% during the first quarter. Vanguard Group Inc. now owns 36,688,672 shares of the company’s stock valued at $69,708,000 after acquiring an additional 7,645,210 shares during the last quarter. Norges Bank purchased a new stake in ChargePoint during the fourth quarter valued at approximately $9,733,000. Wellington Management Group LLP lifted its position in ChargePoint by 418.2% during the third quarter. Wellington Management Group LLP now owns 2,522,247 shares of the company’s stock valued at $12,536,000 after acquiring an additional 2,035,496 shares during the last quarter. Invesco Ltd. lifted its position in ChargePoint by 19.2% during the third quarter. Invesco Ltd. now owns 2,193,049 shares of the company’s stock valued at $10,899,000 after acquiring an additional 353,988 shares during the last quarter. Finally, Cadian Capital Management LP purchased a new stake in ChargePoint during the third quarter valued at approximately $4,970,000. Hedge funds and other institutional investors own 37.77% of the company’s stock.

About ChargePoint

(Get Free Report)

ChargePoint Holdings, Inc, together with its subsidiaries, provides electric vehicle (EV) charging networks and charging solutions in the North America and Europe. The company serves commercial, such as retail, workplace, hospitality, parking, recreation, municipal, education, and highway fast charge; fleet, which include delivery, take home, logistics, motor pool, transit, and shared mobility; and residential including single family homes and multi-family apartments and condominiums customers.

Further Reading

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